Mr. Silver Stash
Sr. Member
- Mar 3, 2012
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Garrett Ace 350
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Just wanted to share my experience with buying a bag out of an automatic coin counter machine.
Thought I was going to hit a potential good load of silver halves. I only found 2 40's in a $1000 bag. Paid cash at a bank, and was given a warning that it could be off. The machine has never miscounted my coins more that $1 per $1000, so I didnt worry about it.
Well I dumped those coins today and the bag was about $100 short! That ate up all my profits for the entire month. Buyer beware on those bags of coins.
If you have an established relationship, maybe you can make a case to the manager. I don't even have an account at this bank yet.
Apparently the banks have an ongoing account with the coin companies and they credit & debit their balance with them for overages & shortages, so the branches don't care if they are off in a particular bag.
Just a warning - if you think that bag in the machine is a "pot o' silver" - you might get short changed.
Thought I was going to hit a potential good load of silver halves. I only found 2 40's in a $1000 bag. Paid cash at a bank, and was given a warning that it could be off. The machine has never miscounted my coins more that $1 per $1000, so I didnt worry about it.
Well I dumped those coins today and the bag was about $100 short! That ate up all my profits for the entire month. Buyer beware on those bags of coins.
If you have an established relationship, maybe you can make a case to the manager. I don't even have an account at this bank yet.
Apparently the banks have an ongoing account with the coin companies and they credit & debit their balance with them for overages & shortages, so the branches don't care if they are off in a particular bag.
Just a warning - if you think that bag in the machine is a "pot o' silver" - you might get short changed.
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